an item or source of income

the art or manner of managing or handling, controlling, directing

is the act of skillfully, carefully, and tactfully managing, controlling, and directing sources of income

amount of space that can be filled and we may add during that particular time

the amount of good that a seller is willing and able to sell for any given price

the amount of good that a purchaser is willing and able to buy

occurs when the quantity supplied is exactly equal to the quantity demanded at that point in time

quantity supplied exceeds the quantity demanded

if the product is not sold within a given time that product cannot later be sold

quantity demanded exceeds the quantity supplied

the future and current value of money, domestic monetary, supply, and global monetary policies

any action taken is the lost of opportunity of taking any alternative action given the same resources

states that as price rises, the quantity supplied increase and as the price falls, the quantity supplied decreases

demand by buyers tend to increase as the price decrease, and tends to decrease as the price increases

whenever a 1% change in price causes more than 1% change in quantity supplied or demanded it will result in a number greater than 1

demand or supply change would not change in price

a 1% change in price causes less than a 1% change in quantity supplied or demanded and this will result in a number less than 1

is merely a time of year immediately before or after a peak or weak season

also called as valley season

is the act of estimating, calculating, or predicting conditions in the future

the act of estimating, calculating, and predicting consumer's demand for products and services in the future

a pressure placed on a market as a result of demand

an activity or event that causes demand to decrease

refers to the pattern and rate at which reservations were requested and accepted

demand that is held back or confined by rules, restrictions, and availability

naturally occurring demand that occurs in the absence of restraints and restrictions

the amount of currency needed to acquire a product/ the value that customers exchange of products

members are rewarded either by receiving reduced rates or increased value, such as added amenities

value generated by a brand

the ability to observe prices

is the practice of offering special reduction in price

lowest available rate per room available to the general public on a given time

the individual responsible for ensuring that a company's prices match a customer's willingness to pay

a revenue management philosophy that places customer gain ahead of short term revenue maximisation in a revenue management decision making